This post is part of a consultation series that we’re doing along with our friends at The Next Web and Trend Hunter. Each of the three sites has picked a company that’s effectively utilizing new technologies to get them ahead in their space. Here’s our take on TrendHunter’s: CrowdTwist:
Everybody loves rewards.
But if you participated in every physical retail store’s loyalty program, it’s likely you couldn’t buy a wallet thick enough to hold all the plastic. That’s not a problem with CrowdTwist, which is a customer loyalty program for online brands that doesn’t take up any space in consumers’ wallets.
Here’s how it works:
Retailers integrate the CrowdTwist plugin to their websites. Then users sign up … and do all the things they would have done anyways: browse, tweet, buy. For each trackable action they take, users get rewards, which they can then redeem for merchandise, experiences, and more.
The company’s philosophy, as chief executive Irving Fain articulates, is that “if you give more, you get more.
It seems to be working: CrowdTwist has some impressive numbers. Customers see ten times the engagement, nine times as many pageviews, and 10 times as many monthly visits.
That’s impressive, but more impressive is that clients who integrate the technology into their websites see 50 percent of sales from reward program members … and a 35 percent increase in average purchase.
Those are significant numbers. Fain says that they mean that the company’s social approach to commerce is working:
“When you can identify that customer on Facebook, Foursquare and your mobile app, you can tailor the rewards and increase engagement.”
Clients include major brands such as Sony, Pepsi, JCPenny, and the Miami Dolphins, and one of the strengths of the CrowdTwist platform is that it can be used to measure both online and offline activity.
One thing that would be interesting: Connecting the silos of loyalty programs with each individual customer. CrowdTwist is a white label software as a service, meaning that users don’t know the CrowdTwist name … they’re just focused on Pepsi or whatever brand they are engaging with.
But connecting those silos would provide some interesting opportunities for cross-promotion and unification of customer identity that CrowdTwists’ clients might find interesting enough to give us some customer data for.
CrowdTwist is a graduate from the NY TechStars incubator program.
Image credit: Andy Dean Photography/ShutterStock